Strong drop in Asian and European prices on Friday

European gas prices dropped significantly on Friday, both on the spot and the curve. The drop seems to have triggered by the fall in Asian gas prices. Indeed, JKM spot prices dropped to €76.287/MWh on Friday, -16.43% day-on-day. Baseload spot power prices on the Japan Electric Power Exchange rebounded to €779/MWh on Friday (up from €385/MWh on Thursday), but still below the €1220/MWh reached on 11 January. Lower coal prices provided additional downward pressure.

On the pipeline supply side in Europe, Russian flows were almost stable on Friday, at 317 mm cm/day on average (compared to 318 mm cm/day on Thursday). Due to an outage at the Oseberg field, Norwegian flows were lower, averaging 330 mm cm/day, compared to 340 mm cm/day on Thursday.

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

September 7, 2021

Brent price nears $73/b

Crude oil prices hit a low yesterday ($71.51/bbl for Brent) after Saudi Arabia cut the price of its exports to Asian customers. Then, they recovered…
January 29, 2021

Stable equilibrium

Brent prompt month contract remained range-bound at 55.5 $/b as the dollar remained supported despite a significant unexpected change in the US macroeconomic indicators. Time…
November 3, 2021

Technical rebound amid unchanged fundamentals

Amid unchanged fundamentals, European gas prices rebounded yesterday, supported by technical buying after the previous sessions’ strong losses. Asia JKM prices (-7.74%, to €76.771/MWh, on…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter
Thank you for subscribing to our newsletter​

We will get back in touch with you soon.

Don’t forget to follow us on twitter!

EnergyScan - Newsletter subscription

Don’t have an account yet?  Sign up here!